Best Buy will be the only game in town for many customers. Circuit City was second to Best Buy in the retail consumer electronics market. (Source: AdRants)

Best Buy shall rule the land when it comes to retail electronics in the U.S.

It’s been a tough road for Circuit City. The retail electronics giant has been pummeled over the years by the likes of Best Buy and Walmart, and has been unable to turn its operations around due to the current state of the economy.

Just a week later, Circuit City filed for Chapter 11 bankruptcy protection -- the filing showed that the company has $2.2 billion USD in debt and $3.4 billion USD in assets. The news got even bleaker today as Circuit City's CEO announced that the company failed to find a buyer and that it could not refinance its debt.

As a result, Circuit City will liquidate all of its remaining stores. The liquidators lined up to sell off the merchandise from the remaining 567 stores include Great American Group, Hudson Capital, SB Capital Group and Tiger Capital.

"We are extremely disappointed by this outcome," said Circuit City CEO James A Marcum "Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company."

FYI, there is nothing illegal about posting a higher price in the store than online. Try shopping Fry's online (via Outpost.com) and getting one of those stores to match the online price. You will fail.

For the record, I found a great online price at CC for a Samsung upscaling DVD player/recorder. I went to the store to pick it up, and guess what? It was priced $20 more. I had to get a rep at the counter to adjust the price.

This is nothing new. An informed shopper - an aggressive shopper - wins every time. How many out there know that you can actually bargain a price on furniture, large appliances, cars, homes, .......